Family businesses constitute the basis of our economy. Although between 80% and 90% of companies are family businesses, their death rate is alarming.
In spite of the strengths associated with this kind of businesses, namely loyalty and commitment, only a few of them manage to survive to a second generation successfully and, out of this group, a still smaller figure continues into the third generation.
The main causes for their failure are connected with family and corporate conflict as well as with the lack of planning and accuracy at the time of establishing the corporate roles of family members in relationship to other members of the company and third parties.
There are also major problems and conflicts due to lack of planning in the transition of the company into future generations.
We can help you assess your family business, its life cycle and the possibility of being proactive in detecting potential conflict or problems, planning and formalizing relationships between company and family members and putting into practice the most appropriate solutions in each case.
